Should I update my current account to match the electoral roll address?

benmcfc

First impression would be that the above is a no brainer, however:

I have been at my current address for a year, but only recently updated the electoral roll.

I had been at the address my current account is registered to for a significant number of years and all accounts on my credit file are registered to this address.

With regards to having optimal credit conditions for a mortgage in around a year's time, am I better off updating all financial accounts, mobile phone contracts and the like to my current (temporary, rental) address, even though this would theoretically destroy continuity?

If I were to have to move to another rental property before being in a position to apply for a mortgage, would this also be sufficiently detrimental to my credit profile to harm a mortgage application?

To clarify, I still have access to post at the previous address, which is why I've not updated anything as of yet.

212

Yep - if you have accounts at old addresses it can look suspicious, particularly if you don't have many to update!

Lenders normally ask for at least 3 years history anyway - so even if you applied for a mortgage in say August 2014, you'd put "Current Address.... 2 years, 2 months" then previous address, which would give you a chance to declare X years and help re: stability. Even 2 years+ in 1 place, followed by 1 year would look fairly good.

Even if you do move before the mortgage app (not ideal) and try to 'hide' it in any way (e.g. declaring going from 1 to 3) it would look very bad. And almost certainly not work since some of your accounts are at 2 (your current address).

So there's not really anything to be gained by leaving your c/a at your old address, it would only harm you.

Even 3 addresses spanning the last 3 years should be ok - I've had no problems with that (although the 3rd does then go back to 2005).

The biggest issue is normally if you keep filling in 'previous address' and have so many (e.g. 6 months here and 12 months there) that they can't get a full picture of 3 years worth within the defined limit (usually current + space for 2 previous). Or if you try to hide an address to improve your history.